1. Mandatory furnishing of correct and proper information of ineligible Input Tax Credit and reversal thereof in Form GSTR-3B As Per CBIC circular no. 170/02/2022:- GST has highlighted incorrect reporting of ineligible Input Tax Credit by Taxpayers. Maharashtra & Kerala state has issued instruction, Detail instruction issued by the Kerala state as under: 2. DGFT: …
“Don’t wait for the last-minute rush to file your TRAN-1/2 Forms. Please File today. The last date to file TRAN forms is 30th November 2022. No Form shall be accepted after 30th November 2022,” GST Portal said in a statement. 2. ITC in annual return has been taken in to account uptill 30.11.2022: 3. GST …
Yes, if you are eligible for e-Invoicing, all the invoices of B2B and Exports need to be registered. No, there is no time limit for delivery of goods or generation of e-waybill for the e-Invoice. Yes, if you are eligible for e-Invoicing, all the invoices including RCM invoices issued by the Supplier need to be …
Error Code Error Category / Form Error Message Why this error comes? Suggested Solution CM-CSCS9020 Application Issue Something seems to have gone wrong while processing your request. Please try again.If error persists quote error number {0} when you contact customer care for quick resolution This error occurs in case of an issue with the …
GST Portal Issues Advisory on TRAN-1 for Taxpayers from Daman and Diu & Ladakh: The portal clarified that, “Due to reorganization of the state of Jammu & Kashmir and merger of the Union territories of Dadra and Nagar Haveli and Daman and Diu, the taxpayers of Ladakh and earlier ‘Daman and Diu’ region have been …
GSTN issued Advisory on implementation of mandatory mentioning of HSN codes in GSTR-1 w.e.f October-2022 return: (Not No. 78/2020 – Central Tax dated October 15, 2020) It is mandatory for the taxpayers to report minimum 4 digit or 6 digit of HSN Code in table-12 of GSTR-I on the basis of their Aggregate Annual Turnover …
Lavjibhai Swaroopchand Mehta (CA/1544/2021) Facts:The applicant revenue has contended that order of the Income Tax Appellate Tribunal (for short ‘ITAT’) was received on 30.07.2018 and a rectification application came to be filed on 14.02.2019 which was dismissed by ITAT as time barred by order dated 28.08.2019. The question before the Hon HC was whether the …
GST WEEKLY UPDATE : 29/2022-23 (16.10.2022) GePP Offline – Microsoft Excel based e-Invoice generating software: The MS Excel based tool can be downloaded from the portal to a PC or laptop with the latest MS Office version installed. MS Office 10 or more required for running the tool smoothly. The tool first runs only by …
GST WEEKLY UPDATE : 28/2022-23 (09.10.2022): Single sign-on (SSO) functionality has been enabled for e-Invoice and e-Waybill: The Single sign-on (“SSO”) functionality has been enabled for e-Invoice and e-Waybill. The SSO is a facility by which the user can log in to the e-Way bill system using his/her credentials and click on the e-Invoice link …
GST on Export Freight: The GST exemption on export Freight was valid until 30th September 2018, and was further extended till 30th September 2022 but with no further extension effective from 1st October 2022, the following transactions would be taxable under GST – – Ocean export freight billed to customers in India to be charged …
E Invoice mandatory w.e.f.01.10.2022: Every registered taxable person whose aggregate annual turnover exceeds Rs.10 Cr in any of the financial year since 2017-18 is liable to issue e-invoice by way of uploading its tax invoice in json file on Invoice Registration Portal (IRP) in accordance with e-invoice schema in INV-01 and getting back digitally signed …
Updated version of e-Invoice QR Code Verify Mobile App. is available: A Quick Response (QR) code needs to be mandatorily displayed on all B2B invoices issued by businesses for whom e-Invoicing is applicable. This QR code is a two-dimensional barcode that can be read by a well-configured QR code reader. The Government has recently released …
GST WEEKLY UPDATE : 23/2022-23 (04.09.2022) Changes in Table 4 of Form GSTR-3B for enabling taxpayers to correctly report information regarding ITC availed, ITC reversal and ineligible ITC: The Notified changes of Table 4 of GSTR-3B have been incorporated in GSTR-3B and are available on GST Portal w.e.f September 01, 2022. The taxpayers are advised …
GST WEEKLY UPDATE : 22/2022-23 (28.08.2022) GSTN enabled GSTR-9 & GSTR-9C for F.Y. 2021-22 on GST Portal: The Goods and Services Tax Network (“GSTN”) has enabled GSTR-9 & 9C for Financial Year (“FY”) 2021-22 for filing on the GST Portal. GSTR 9 – Annual Return | GSTR 9C Reconciliation Statement The due date for filing …
GSTN issued advisory on Upcoming Changes in Table 4 of Form GSTR-3B: The taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B: The notified changes in Table 4 of GSTR-3B are being implemented on the GST Portal and will be available shortly. Until these changes …
GST Applicability has been clarified by the Finance Minister: The Union Finance Nirmala Sitharaman on August 2, 2022 in Rajya Sabha said that, There is no GST on cash withdrawals from banks; nevertheless, the GST tax will apply only when the bank purchases cheque books from the printer. “5+5=10 transactions per month are totally free …
SEZ UNIT & SEZ DEVELOPER UPDATE : 19/2022-23 (12.08.2022) Commerce Ministry issued SOP for Work from Home permission & procedure for thaereof (Rule 43A of SEZ Rules, 2022) The Department of Commerce, SEZ Division has issued Guidelines vide Instruction No. 110 dated August 12, 2022 providing Standard Operating Procedure (“SOP”) for Work from Home (“WFH”) …
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GST WEEKLY UPDATE : 19/2022-23 (07.08.2022) E-Invoicing: E-invoicing is made applicable w.e.f 01.10.2022 for the registered person having aggregate turnover of Rs.10 crore and above only vide Notification No. 17/2022–Central Tax dated 01.08.2022. E-invoicing provisions are applicable when the stated aggregate turnover threshold limits crosses in any of previous financial year(s) starting from FY 2017-18. Thus, aggregate …
GST WEEKLY UPDATE : 17/2022-23 (24.07.2022) Advisory on Upcoming Changes in GSTR-3B: The Government vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 has notified few changes in Table 4 of Form GSTR-3B requiring taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B. …
GSTN issued advisory on Upcoming Changes in Table 4 of Form GSTR-3B: The taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B: The notified changes in Table 4 of GSTR-3B are being implemented on the GST Portal and will be available shortly. Until these changes …
GST WEEKLY UPDATE : 16/2022-23 (17.07.2022) Pre-packaged and labled edible items liable for the GST @5% w.e.f. 18/07/2022: The edible items taxable @ 5%/12% if these items are *pre-packaged and labled* i.e. items are placed in package, whether sealed or not, carrying *pre-determined quantity. Pre-packaged:– The items must be placed in a package without the …
GST WEEKLY UPDATE : 14/2022-23 (03.07.2022) GST New Rate & Changes will come into effect from 18th July 2022 subject to CBIC Notification: Description of goods or services Old Rate New Rate Solar water heaters and systems 5% 12% Prepared or finished leather or chamois leather or composition leathers 5% 12% Job work for processing …
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GST WEEKLY UPDATE :13/2022-23 (26.06.2022) Period for levy and collection of Compensation Cess extended till March 31, 2026: The CBIC vide Notification No. 1/2022–Compensation Cess dated June 24 June, 2022 has issued the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022 w.e.f. July 1, 2022, to extend the period for levy and …
GSTN issued advisory w.r.t. availing ITC as per law and GSTR-2B: The Goods and Services Tax Network (“GSTN”) has issued an Advisory dated June 18, 2022 regarding availing Input Tax Credit (“ITC”) as per law and GSTR-2B. For some of the taxpayers, there was an issue in relation to duplicate entries in GSTR-2B which has since been …
GST Portal facilitates addition of ‘Additional Trade Name’ under Same GSTIN: The Goods and Services Tax Network (GSTN) has enabled the new functionality in the official portal to add “Additional Trade Name” under the same Goods and Services Tax Identification Number (GSTIN). With this now, it is easy to do multiple businesses under the same Legal name with a different …
GST WEEKLY UPDATE :9/2022-23 (29.05.2022) CBIC waives GSTR-4 Late Fee: The CBIC has waived the late fee for GSTR-4 till 30th June 2022. GSTR-4 is a GST Return that has to be filed by a composition dealer. A dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once …
CBIC extends Due Date for filing GST PMT-06: The Central Board of Indirect Taxes and Customs (CBIC) has extended the due date for filing of GST PMT-06 till 27th May 2022. 2. CBIC extends Due Date for filing of GSTR-3B: Due the technical glitches in the Goods and Services Tax Network (GSTN), the Central …
GSTN Clarification On Incomplete GSTR-2B of April-2022: Regarding the incomplete GSTR-2B of April-2022, the GSTN clarified the following: It has been noticed that in a few cases, certain records are not reflected in the GSTR-2B statement for the period of April 2022. However, such records are visible in GSTR-2A of such recipients. The technical team …
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1. The Goods and Services Tax Network (GSTN) has issued an advisory to the composition taxpayers under the GST regime.: • Since FY 2019-20, composition taxpayers has to pay the liability through Form GST CMP-08 on quarterly basis while return in Form GSTR-4 is required to be filed on annual basis after end of a …
GST WEEKLY UPDATE :4/2022-23 (24.04.2022) Clarification in respect of refund of tax specified in section 77(1) of the UPSGST Act and section 19(1) of the IGST Act: Regarding the issues in respect of refund of tax wrongfully paid as specified in section 77(1) of the Uttar Pradesh Goods and Services Tax Act, 2017 (hereinafter referred …